| MONTORO
TO ACQUIRE FURTHER URANIUM PROSPECTS & PRIVATE PLACEMENT
International Montoro Resources Inc. (“IMT”) has negotiated
and signed an Agreement in connection with its acquisition of another
uranium prospect. The Agreement calls for payment in cash and units.
The units total 300,000 and are comprised of common shares and warrants,
with the warrants exercisable at $0.40 in year one and $0.50 in
year two. IMT is also completing negotiations for adjacent and contiguous
properties and an interest in the aforementioned prospect. Due to
the nature and circumstances of these additional acquisitions the
Company will not be disclosing further information until all negotiations
are completed.
The Company expects to announce full details within the next thirty
days.
The Company also announces a non-brokered private placement of
two million units at $0.31 per unit for gross proceeds of $620,000.
Each unit is comprised of one common share and one common share
purchase warrant (exercisable for two years at a price of $0.45
per share in the first year and $0.55 per share in the second year).
The proceeds will be used for its proposed acquisitions and working
capital.
These transactions are subject to the approval of the TSX Venture
Exchange. Finders Fees will be paid on a portion of the financing.
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